British startup connects buyers to sellers of pre-owned luxury watches

A British startup has created a rapidly growing marketplace for buying and selling pre-owned luxury watches.

Watchr is a marketplace connecting buyers and sellers of used luxury watches where all watches are checked by our certified Watchr inspectors.

The Watchr.co.uk marketplace was launched after entrepreneur and CEO Claudio de Giovanni raised £100,000 from investors including Virgin Startup.

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People selling their own watches need only provide basic details. Watchr then sends an inspector to check your timepiece right at your home or office, set the price, and – when it’s sold – ship it to a buyer.

Watchr never holds stock of watches.

“What could be less painless? Plus, you’re getting a higher price than the dealers’, guaranteed,” Mr Giovanni says.

Buyers have the assurance that the watch has been inspected and certified. Watchr also provides a 10-day money-back guarantee.

The second hand market for luxury watches is booming in the UK, led by Watchfinder, which is expected to confirm revenue over around £84 million in 2016 when its accounts are finalised.

Several businesses are likening the pre-owned luxury watch market to the second hand market for cars, which drives up sales of new cars by creating a professional channel to trade-in and trade-up.